I have a business which is in the startup stages (location has been acquired). There is an investor that wants to invest in my business. Does he set the terms or do I? I also need him to sign a non-disclosure, which is not a problem. The problem is with the non-competition contract, as he states the non-compete agreement might be premature since we haven't really had a formal agreement on a partnership nor received an investor term sheet. Please help!! I want to protect myself as well as my business!
2007-05-31 11:15:49 · 3 answers · asked by ldang918 1 in Business & Finance ➔ Investing
You need to consult with an experienced attorney.
2007-05-31 11:51:44 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It's his money, so ultimately he sets the terms, although you should talk to him, tell him what you need, and can negotiate with him over terms.
It's a fair enough concern that he doesn't want to sign a non-compete agreement if you haven't yet defined between you just what that means, or what your relationship will be in the business venture.
2007-05-31 11:55:05 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
sounds like a serious issue, talk with an attorney or something, specially since this is your first experience, you might got ripped off really badly,
Beware
2007-05-31 11:41:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋